Very busy week for the Unofficial Problem Bank List because of failures and the FDIC releasing its enforcement actions through March. In all, there were 17 removals and eight additions that leave the list with 930 institutions with assets of $361.7 billion. A year ago, the list held 984 institutions with assets of $422.1 billion. At 930 institutions, it is the lowest weekly count since December 24, 2010 when 919 institutions were on the list. During April 2012, there were 16 additions and 34 removals including 25 action terminations, six failures, and three unassisted mergers. For the month, the institution count fell by 18 to 930 and assets dropped by $15.8 billion to $361.7 billion.

Five banks were closed this Friday, which is the most in one night since five were closed nearly a year ago on April 29, 2011. This week is the 17th of the year and, for the past five years, it has been the third most active for closings at 4.2 institutions after the 44th week (mid-November) at 4.75 closings and 30th week (late July) at 4.5 closings. Removals from failure this week include Plantation Federal Bank, Pawleys Island, SC ($486 million); Inter Savings Bank, fsb D/B/A Interbank, fsb, Maple Grove, MN ($482 million); Bank of the Eastern Shore, Cambridge, MD ($167 million); HarVest Bank of Maryland, Gaithersburg, MD ($164 million); Palm Desert National Bank, Palm Desert, CA ($126 million).